31 August. 1867 N. 1253.
The Economist, 31. August 1867. S. 983/984.
Schließen
The Finances of Russia.
Consul Michell’s Report of Russian finance friendly to Russia; he obtained his appointment partly through Russian influence. It shows that that Gvt. never succeeds even temporarily in avoiding a deficit. Before 1832, each Russian department spent at its own discretion; deficiencies made up by the issue of inconvertible notes, sales of property, or by leaving debts unpaid. In 1832 a slightly better system introduced, but Treasury still unable to make expenditure and revenue meet, and compelled every year either to borrow money abroad, or to take money from the State Banks of Deposit, or issue inconvertible paper.
Between 1832 and 1861 thus obtained 216,000,000l., average deficit for 30 years of 7 Mill. l. a year.
Official admitted deficit of | 1862 | over l.1,500,000; |
1863 | 1,700,000; | |
1864 | 6,300,000. | |
1865. | 2,700,000 | |
1866 | 5,700,000. |
Michell shows that this is far within the truth. The State helps itself from the National Bank as it pleases, giving only inconvertible |161 paper in return; and so, in one way or other, the Russian Gvt., von 1861–1866 borrowed 75, 75 Mill. l., or at the rate of 15 Mill. l. a year, an average deficit of nearly double the old amount. Much of all this debt met by notes which bears bear no interest, and the interest bearing debt bears no proportion to the real indebtedness of the State. No one knows how much paper is afloat, total enormous, but public debt = 286 Mill. l., mit annual charge of 11 Mill. l., or average of about 41/2%. As the ordinary revenue in 1866 = 53 Mill. l. St., Russia owes, apart from her paper, nearly 6 years income, and has mortgaged nearly 1/5 of her usual receipts, not a very formidable state of affairs when compared mit English, French, or Dutch accounts, but very formidable when compared mit dem true analogue, India, which owes barely 2 years income, and has mortgaged little more than a tithe of her revenue. India, moreover, has no inconvertible paper. Yet India can borrow at 5%. Michell says, as to the unknown quantity of inconvertible notes: „The accounts between the Treasury and the State Bank are so complicated as to defy any inquiry for the purpose of making a statement beyond dispute. Practically, the State helps itself to whatever it wants from the Bank, which is thereby compelled to issue more inconvertible notes to ‚strengthen the branches‘, and thus to suspend its own charter. The Treasury has broken the State Bank, for it has long been unable meet its engagements to pay specie. Nor could it return to the public their deposits if demanded, except by a corresponding new issue of inconvertible paper.[“] „Irrespective of 45,000 men serving in the Imperial army, the 800,000 rank and file, supplied by a total population of about 55 millions, constitutes 14/10% of that portion of the population liable to conscription, while the numerical relation of the army to the population of the empire (70 mill.) exceeds that of France and Prussia by 1/3.“
„At the same time“, says Michell „the number of young men eligible in Russia for service is comparatively far smaller than in other countries of Europe, where about 1% of the population yearly reaches the age of 20 years, and of these 40[%] are fitted for military service. In Russia, owing to the mortality of the children, it takes 50 millions of the population to produce the number of young men of 20 years that France can command with a population of 38 mill. According to this calculation, the number of men of the class liable to military service, who reach the age of 20 years in Russia, about 400,000 p. an.; of these, perhaps not more than 160,000 are fitted for the army; but the actual number yearly taken is 100,000, and these only return to their families after 8 years’ service. Official Expenditure 33% of revenue; in der That immer viel mehr. Ausserdem charge to the country by the fact that the annual expense to the male taxable population of furnishing a contingent of 100,000 recruits cannot be less than 31/2 mill. roubles, while their liability to transport and quarter troops is estimated at 15 Mill. roubles, constituting a tax of 60 to 70 copecks per male; while in order to possess irregular troops, 3 mill. of a population occupying the most fertile provinces of the empire are exempted from all taxes and contributions.“
Inhalt:
- 17 February 1866.
N. 1173. (Fortsetzung)
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24 February 1866. N. 1174.
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March 3. 1866. N. 1175.
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10th March, 1866. N. 1176.
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March 17, 1866. N. 1177.
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24. March 1866. N. 1178.
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31 March 1866. N. 1179.
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April 7. 1866. N. 1180.
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April 14. 1866. N. 1181
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April 21. 1866. N. 1182.
- April 28, 1866. N. 1183.
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5 May. 1866. N. 1189.
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12 May. 1866. N. 1185.
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May 19, 1866. N. 1186.
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26 May 1866. N. 1187.
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June 2. 1866. N. 1188.
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June 9. 1866. N. 1189.
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June 16. 1866. N. 1190.
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23 June. 1866. N. 1191.
- June 30. 1866. N. 1192.
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Saturday, 7 July 1866. N. 1193.
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July 14, 1866. N. 1194.
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July 21. 1866. N. 1195.
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July 28, 1866. N. 1196.
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4 August 1866. N. 1197.
- August 11. 1866. N. 1198.
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August 18, 1866. N. 1199.
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August 25, 1866. N. 1200.
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Saturday September 1, 1866.
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8 September 1866. N. 1202.
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September 15. 1866. N. 1203.
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September 22, 1866. N. 1204.
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September 29. 1866. N. 1205.
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October 6 1866. N. 1206.
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October 13. 1866. N. 1207.
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Saturday. October 20. 1866. N. 1208.
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October 27. 1866.
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November 3. 1866. N. 1210.
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November 10. 1866. N. 1211.
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November 17. 1866. N. 1212.
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24 November 1866. N. 1213
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1. December 1866. N. 1214.
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December 8. 1866. N. 1215.
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15 December. 1866. N. 1216.
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22 December. 1866. N. 1217.
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29 December 1866. N. 1218.
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January 5, 1867. N. 1219.
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January 12, 1867. N. 1220.
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19 January, 1867. N. 1221.
- January 26, 1867. N. 1222.
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2 February 1867. N. 1223.
- 9 February, 1867. N. 1224.
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16 February. 1867. N. 1225.
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23 February 1867. N. 1226.
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2 March 1867. N. 1227.
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9 March, 1867. N. 1228.
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16 March 1867. N. 1229.
- March 23, 1867. N. 1230.
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March 30. 1867. N. 1231.
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April 6. 1867. N. 1232.
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13 April. 1867. N. 1233.
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20 April. 1867. N. 1234.
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27 April. 1867. N. 1235.
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May 4, 1867. N. 1236.
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March
May
11; 1867. N. 1237.
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May 18. 1867. N. 1238.
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25 May, 1867. N. 1239.
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June 1. 1867. N. 1240.
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June 8. 1867. N. 1241.
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June 15. 1867. N. 1242.
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22 June 1867. N. 1243.
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June 29. 1867. N. 1244.
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July 6. 1867. N. 1245.
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July 13, 1867. N. 1246
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20 July 1867. N. 1247.
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July 27. 1867. N. 1248.
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3 August 1867. N. 1249.
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10 August, 1867. N. 1250.
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17 August, 1867. N. 1251.
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August 24, 1867. N. 1252.
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31 August. 1867 N. 1253.
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September 14, 1867. N. 1255.
- 21 Sept. 1867. N. 1256.
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September 28, 1867. N. 1257.
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October 5, 1867. N. 1258.
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October 12, 1867. N. 1259.
- October 19, 1867. N. 1260.
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October 26, 1867. N. 1261.
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November 2. 1867. N. 1262.
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9 November 1867. N. 1263.
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November 16, 1867. N. 1264.
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Nov. 23. 1867. N. 1265.
- 30 November, 1867. N. 1266.
- 7 December 1867. N. 1267.
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December 21, 1867. N. 1269.
- December 28, 1867. N. 1270.
- Saturday. May 19. 1866. N. 311. Panic.
Bank o. E.
- Money Market. (Reserve of B.o.E.)
- The Recent Panic and Bank Act Suspension.
- The Panic and its Remedy.
- What to do with the Act of 1844?
- The Times and the
Panic.
- Investors Losses from „Bear“ Frights.
- The Stock Markets of the Week.
- The Limited Liability Act of 1862.
- Railways. (don’t pay)
- The Reports of the Asiatic Banking Co., and the Bank of Hindostan, China
and Japan (Limited.)
- The Economy of B.o.E. Notes. 1000£ Notes.
- Money Market. (Reserve of B.o.E.)
- May 26, 1866. N. 312.
- The Bank of England and the London Bankers in the
Panic.
-
Lord Clarendon on
the Panic.
- Transfer of Business of the Bank of London to the Consolidated Bk.
- Loss in Investments since beginning of 1866 – May
26.
- The Stock Markets of the Week.
- What is a Five-Twenty Bond? (Neue Art Convertibility for paper
currency)
- The Annual Circular of the American
Commercial Agency. (Vehmgericht)
- Act of 1844 and Bank of England.
- A Pluralist Director.
- The Directors of failed
Cos.
- The Bank of England and the London Bankers in the
Panic.
- June 2, 1866. N. 313.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- The Theory of Panic etc.
- Board of Trade Returns.
- The Consolidated Bank
(limited)
- American Exchanges and Grain Trade.
- Pressure and securities.
- Variations between Prospectus and Articles. The
Russian Iron Works Co. (lim.)
- America. U. St. (Trade)
- Bearing.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- July 21, 1866. N. 320.
- 28 July 1866. N. 321.
- August 4. 1866. N. 322.
- 11 August, 1866. N. 323.
- August 18. 1868. N. 324.
- 25 August, 1866. N. 325.
- 1 Sept. 1866. N. 326.
- 8 September 1866. N. 327.
- Sept. 15, 1866. N. 328.
- 22 September, 1866 N. 329.
- 29 September 1866. N. 330.
- October 6, 1866. N. 331.
- 13 October. 1866. N. 332.
- 20 October, 1866. N. 333.
- 27 October 1866. N. 334.
- 10 November. 1866. N. 336.
- 17 November 1866. N. 337.
- 24 November, 1866.
N. 338.
- December 1. 1866. N. 339.
- 8 December 1866.
N. 340.
- December 15, 1866. N. 341.
- 22 December, 1866. N. 342.
- 29 December 1866. N. 343.
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5 January, 1867. N. 344.
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12 January 1867. N. 345.
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Proposed Expansive Clause in the Bank Act of
1844.
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Evidence of John Henry Gurney
and Mr. Robert
Birnbeck
Birkbeck
before Vice-Chancellor Malins.
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Cotton Market. Past and Present.
-
Thomson
Hankey: (formerly Governor of B.o.E.) „The Principles of Banking, its Utility
and Economy; with Remarks on
the
the Working and Management of the Bank of
England“. Lond.
1867.
-
Proposed Expansive Clause in the Bank Act of
1844.
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19 January, 1867. N. 346.
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26 Jan. 1867. N. 347.
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February 2, 1867. N. 348.
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9 February, 1867. N. 349.
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16 February
1866
1867
. N. 350.
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23 February 1867. N. 351.
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2 March 1867. N. 352.
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The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
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Overends. Report of Liquidators and Report of Defence
Committee.
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Leeman’s Bill respecting
Dealings in Bank Shares.
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Limited Liability. High Nominal Shares.
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London, Chatham and Dover
Railway Co.
(faux frais)
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Plethora of money.
-
1915
on Overends.
(David Barclay
Chapman)
-
London, Chatham et
Dover
(Zusammensetzung des
Investigation Committee) (Solicitors)
(Scapegoats)
-
The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
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9 March, 1867. N. 353.
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March 16, 1867. N. 354.
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23 March. 1867. N. 355.
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30 March 1867. N. 356.
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April 6. 1867. N. 357.
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13 April 1867. N. 358.
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April 20, 1867. N. 359.
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April 27, 1867. N. 360.
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May 4, 1867. N. 361.
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11 May 1867. N. 362.
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25 May. 1867. N. 364.
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June 8, 1867. N. 366.
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15 June. 1867. N. 367.
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22 June 1867. N. 368.
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29 June. 1867. N. 369.
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July 6. 1867. N. 370.
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July 13. 1867. N. 371.
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July 20, 1867. N. 372.
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July 27. 1867. N. 373.
August 3. 1867. N. 374.
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August 10. 1867. N. 375.
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August 17, 1867. N. 376.
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August 31, 1867. N. 378.
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14 September. 1867. N. 380.
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21 September, 1867. N. 381.
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28 September, 1867. N. 382.
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Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
Public Debt of Russia. Consul
Michell’s
Report.
- Robert Knight: Letter to the
Right.
Right
Honourable Sir Stafford Northcote on
the Present Condition of Bombay. Lond.
1867.
-
Limited Liability Cos formed since
1865.
-
Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
5 October. 1867. N. 383.
-
Money Market Review. 12 Oct. 1867.
- 19 October 1867. N. 385.
-
October
27
26
, 1867. N. 386
-
9 November, 1867. N. 388
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16 November 1867. N. 389.
- 23 November 1867. N. 390
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7 December 1867. N. 392.
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21 Dec. 1867. N. 394.
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28 December 1867. N. 395.